(c) Applications for BIPOC Projects.

(1) For any QRRP allocation round, all Applicants intending to qualify as a BIPOC Project to compete in the BIPOC pool shall pre-qualify as a BIPOC Project under this subdivision. Pre-qualification means the Executive Director determined the Applicant is a BIPOC Project under Section 5100.

(A) At least 15 business days prior to the QRRP Application due date for an allocation round in which an Applicant intends to compete as a BIPOC Project, the Applicant shall submit a prequalification request to the Executive Director using the prequalification request form available on the CDLAC website.

(B) The Executive Director shall issue a decision in response to any requests received under subdivision (c)(1)(A) within 10 business days and no later than five (5) business days prior to a QRRP allocation round application due date. The Executive Director may request clarification or additional documentation from the Applicant about the prequalification request that may extend the Executive Director’s time for response.

(C) A pre-qualification approval letter is required to be included in any application submitted for a QRRP allocation round where the applicant intends to compete in the BIPOC pool.

(D) The Executive Director’s decision under subdivision (c)(1)(B) is not appealable to the Committee. Nothing herein limits an Applicant’s right to an appeal under Section 5005 or the Committee’s authority to disqualify an application under Section 5015.

(E) Applicants with pre-qualification requests not granted by the Executive Director shall not complete in the BIPOC pool but shall be eligible to complete for an Allocation under subdivisions (a), (b), and (d) of this section.

(2) Applications for BIPOC Projects will be ranked amongst themselves, and separately from Applications for all other Qualified Residential Rental Projects. Applications for BIPOC Projects awarded the greatest number of points after factoring in the tiebreaker pursuant to Section 5106(f), as applicable, shall be awarded an Allocation from the BIPOC Pool. Applications for BIPOC Projects not receiving an Allocation pursuant to this subdivision shall be eligible for consideration for an Allocation under subdivisions (a), (b), and (d) of this section.

(d) Applications for Qualified Residential Rental Projects that are New Construction Projects, exclusive of Rural Projects, will then be ranked together. Applications receiving the greatest number of points after factoring in the tiebreaker pursuant to Section 5106(f), as applicable, shall be awarded an Allocation from the New Construction Pool in the following manner.

(1) Set Aside application selection. Beginning with the top ranked application from the Homeless Set Aside, followed by the Extremely Low/Very Low Income Set Aside, and the Mixed Income Set Aside, the highest scoring applications in each Set Aside shall be awarded an Allocation pursuant to the procedures in subdivision (e). A project that meets the criteria of both the Homeless Set Aside and the Extremely Low/Very Low Income Set Aside shall be eligible for an allocation from either Set Aside. If the Homeless Set Aside is undersubscribed in a competitive round the remaining funds will transfer to the Extremely/Very Low Income Set Aside. All New Construction Projects, exclusive of Rural Projects, that do not receive an allocation from a Set Aside shall be eligible for an allocation from their respective geographic region pursuant to subdivision (d)(2).

(2) Geographic region application selection. Bonds available in the New Construction Pool that are not reserved to a Set Aside shall be allocated to the highest ranking applications according to the geographic allocation described in Section 5101. Projects receiving an allocation in the Rural, Acquisition/Rehabilitation, or BIPOC Pools or in the Homeless, Extremely Low/Very Low Income, and Mixed Income Set Asides shall not be counted towards the geographic apportionments.

(3) In the final allocation round of the year, any bonds remaining in any QRRP pool, Set Aside, or geographic region shall be allocated to the highest-ranking Project or Projects. Those amounts shall not be added to the respective QRRP pool, Set Aside, or geographic region in the following year, and any allocations pursuant to this paragraph shall not be subtracted from the geographic allocations in the following year.

(e) If the last project allocation in a Pool, Set Aside, or geographic region requires more than the bonds remaining in that Pool, Set Aside, or geographic region, those overages shall be subtracted from that Pool, Set Aside, or geographic region in determining the amount available in the Pool, Set Aside, or geographic region for the subsequent allocation round. The last project to be allocated in a Pool, Set Aside, or geographic region shall not receive an Allocation unless at least 80%, or 100% in the final round of the year, of the requested Allocation for that project is remaining in that Pool, Set Aside, or geographic region for that round. When the first or next highest-ranking project does not meet the 80% or 100% rule above, that project, as well as any subsequent projects in rank order that also do not meet the 80% or 100% rule, may be skipped over to the next highestranking project that meets the 80% or 100% rule. However, for all Allocation Rounds except the final Allocation Round of the calendar year, a project shall not be funded by this skipping process unless (a) it has a point score within one point of the first project skipped and (b) has either a final tiebreaker score equal to at least 75% of the first skipped project’s final tiebreaker score or a final tiebreaker score equal to at least 75% of the final tiebreaker score of the first skipped project after the last funded project in the Pool, Set Aside, or geographic region. If bonds within a Pool, Set Aside, or geographic region remain unallocated at the end of an allocation round, they shall be added to the subsequent round amounts in the same Pool, Set Aside, or geographic region. In the final allocation round of the year, the allocations within a Pool, Set Aside, or geographic region shall not exceed the amount of bonds available in the Pool, Set Aside, or geographic region.

(f) If two or more Applications are awarded the same total number of points, those Applications shall be ranked according to the highest amount of public benefit per dollar of cost-adjusted Bond and State Credit Allocation requested.

(1) A project’s public benefit is the sum of all of the following:

(A) The project’s unit production benefit, which is the product of the bedroom-adjusted number of tax credit units multiplied by $50,000. To calculate a project's bedroom-adjusted number of tax credit units, the Committee shall first multiply the number of tax credit units of each bedroom count by the adjustment factor for units of that bedroom count. A project's bedroom-adjusted number of tax credit units shall be the sum of each of these products. The adjustment factors shall be .9 for a studio unit, 1 for a 1-bedroom unit, 1.25 for a 2-bedroom unit, 1.5 for a 3-bedroom unit (up to no more than 30% of the total units, then those additional units shall be counted as 2- bedroom units), and 1.75 for a 4-bedroom or larger unit (up to no more than 10% of the total units, then those additional units shall be counted as 2-bedroom units.